Iman Yusef-Yahya asked:


You don’t have to be in the business of real estate investing for very long before you hear the ongoing controversy – should you work with real estate agents or not? Some will tell you, absolutely not. The reason is that real estate agents are unfamiliar with the real estate investing side of the business; therefore they will not be receptive to creative deals.

While that may be true, the real truth may be that real estate investors have not always shown their best side when working with an agent and therefore have created their own bad reputation. If you approach agents as you would any other business venture and work to build a relationship on trust, in the long run such a relationship could possibly net you thousands of dollars in profits.

Give Value First

Find an agent that has a number of signs up in the neighborhood where you primarily work. Contact that agent and lay the groundwork for a relationship. In your business – if you are marketing correctly – you will be getting leads that aren’t suited for your real estate investing business. Perhaps they are not flexible on terms or price. Pass that contact information on to this agent. If you start out by giving value rather than demanding that this agent bend your direction, you will build trust.

As you get to know one another, explain the types of properties you are looking for. You are looking for the fixer uppers that the agent would be embarrassed to show to any retail buyer. Of course the agent understands now that you are going to resell. If you are the rehabber and will be the one selling to the end-user, you stand to gain if you then list the property with this agent. Even if you could make more by selling it yourself (by owner), in this instance, paying the commission would be a wise investment. Now you have offered the agent two ways to profit on one property. Additionally, you can offer a short closing date. What agent wouldn’t like to close in a ten-day time frame?

Reasonable Earnest Deposit

As a real estate investor, if all you are going to put down as earnest money is a few bucks, don’t bother with an agent. Why take the chance of offending him or her? Be ready to hand over at least $500. Again, if you do business in an ethical and trustworthy manner, that agent will bend over backward to return the favor.

Expired Listings

Ask your agent ally for the information on expired listings. These are properties that didn’t sell but the listing with the agent has now expired. Oftentimes these owners are more motivated because of the long delay with no sale. They are great candidates for you to contact and see if you can put a deal together. There are bargain properties in these listings. If you are able to help that owner get out of the property, then everyone wins.

Information at Your Fingertips

When you are out in the field, you may need property information quickly. If your relationship with this agent is well established, now you will feel at ease in calling and asking for your friend to look it up for you. You might need to know rent prices in the area, or comps of nearby sales. This is a tremendous benefit to your real estate investing business when that kind of information is yours for the asking.

Conclusion

As you can see, working with a real estate agent is no different than any other kind of business relationship that is built on trust. To view real estate agents as your competition, or even as the enemy, is totally self-defeating and can eventually cost you dearly. Essentially you are in the same business and each of you can benefit from the other.

Make it your goal to cultivate a select group of agents with whom you can work closely. After a few years of this type of relationship building, you will look back and see the thousands of dollars worth of deals that have come your way that you would never have found on your own.



Edgar

Groshan Fabiola asked:


Finding a Minneapolis real estate agent will help you find a quality home in Minnesota’s largest city. With a population of over 370,000 individuals, Minneapolis offers its citizens an amazing array of entertainment, cultural, and sporting options to entertain them. When looking for a Minneapolis real estate agent, visit our site at www.localrealestateyellowpages.com where you will be able to peruse an extensive Minneapolis real estate agent list to help make your house hunting easier.

There are many different neighborhoods in Minneapolis and finding one suitable for you and your family if you have one can be a difficult task. A professional Minneapolis real estate agent will be able to offer you expert advice on which places are the most suitable for your situation. One thing to discuss with your Minneapolis real estate agent is the price range you are in when looking at homes. This information will allow your search to be more efficient.

A quality Minneapolis real estate agent will be able to provide you with a tailored listing of homes that fit your needs be they location, proximity to schools, or type of neighborhood. To find the best home for you, contact a Minneapolis real estate agent.

For more resources about Real estate agent directory or even about local real estate agents and especially about Atlanta real estate brokers please review these links.



Janice

Escapeso Austin Real Estate asked:


Some people choose to use a real estate agent and some people choose to go it alone. One thing I have noticed over the years is that a number of seasoned investors looking in a new city will seek out a good agent while novice investors will frequently go it alone. I have even had a number of successful real estate agents seek out my help when they are moving to our city. Why do some of these seasoned investors choose to work with an agent? Below is a list of 7 benefits of using an agent.

1. Understand potential restrictions of the property. I recently heard a story from a friend at the city development office in Austin Texas. A couple had saved up for their retirement. They wanted to retire and live out in the hill country. They went to the foreclosure auctions. At the auction they purchased a lot for 500,000. It had great views and they were going to build their dream house on it. They had researched the lot before the auction and found it was zoned SFR which means a single family residence can be built on it. After purchasing the lot they started plans to build their retirement house. At this time they discovered the lot was in the 25 year floodplain. My friend at the city development office explained that the lot could not be built on and was basically worthless.

2. Know about new developments that might affect a properties value. A good realtor will know of proposed new developments that might affect different properties in which a buyer is interested. Whether these developments are positive or negative can be valuable information when weighing different housing options.

3. Find potential problems with a property. It is always a good idea to have a home inspector look at a potential house. However, a Realtor is a good first line of defense to see if a house has inherent problems. A Realtor that can know about common problems, such as foundation or electrical, that affect a particular neighborhood.

4. Understand contracts specifics. Whenever you buy or sell a house you are entering into a large personal transaction. It helps to have someone on your side that deals with these types of transactions on a daily basis. A Realtor can help you understand contracts and can explain what is typical for your area. The most common pitfall into which I see unrepresented buyers fall is to become involved in an atypical contract that is not to their benefit. For instance a seller will sign an offer that has an option period that is 4 times longer than what is typical. A buyer might put in offers on multiple properties with long option periods. The buyer will wait and see if the market appreciates. If the market has appreciated the buyer buys the house at now and undervalued price. If the market has gone down the buyer walks away.

5. Misperception of a benefit of going it alone. Buyers frequently think that by not using a buyers agent they will get a better deal from the seller. In most situation the listing agent asks for 6 percent from the seller. If a buyer comes with an agent the listing agent splits the 6 percent with the buyers agent. If an unrepresented buyer comes the listing agent keeps the whole 6 percent. On the selling side, For Sale By Owners (FSBO) often think they are saving alot of money by avoiding a listing agent. Nationally, FSBO homes sell for 14 percent less than agent listed homes in the same neighborhoods. In addition alot of FSBO’s still end up having a buyers agents involved. There is also money spent on advertising. Since an agent has experience marketing homes the agent often can spend money more effectively on advertising. Agents often know which advertising sources produce the most potential buyers.

6. Save time when looking for listings. Looking for listings without an agent can take up large chunks of time. When looking with an agent you can see several homes in a few hours. When going it alone you have to call the listing agent for each house and wait at the house for the agent to arrive and open up the house. In addition agents often know houses which are not listed or may have already identified potential problems with a particular house of interest.

7. Insure Security. When a home is listed with a broker, agents coming to the house have to usually log in. This allows the listing agent to keep a record of every party coming into the house. Since their business is on the line, agents are more likely to protect the house from damage or theft. For a variety of reasons, it is generally not a good idea to have random people you do not know come into your house. Often sellers simply have a phone number, but that phone could be their house, a friend’s house, a pay phone, or even a stolen phone.

Searching for a home can be stressful and difficult but it can also be fun. Whether you choose to look for a home on your own or with a Realtor its a good idea to be a extremely careful when you seek out your dream home.



Daniel

Groshan Fabiola asked:


Moving to the City of Brotherly Love can be an exciting opportunity but also difficult to find the right home. A Philadelphia real estate agent can help you narrow down what type of neighborhood you would like to live in.

We have compiled a valuable website at www.localrealestateyellowpages.com to help find a quality Philadelphia real estate agent to help make your search for a residence enjoyable. With over 1.6 million residents, Philadelphia offers its citizens an amazing array of cultural and educational opportunities.

To gain the most out of your life in this city, the use of a Philadelphia real estate agent will help answer any questions you may have. There are many questions you need to ask yourself to help facilitate the process of finding a new home. Do you need to live close to schools? Is there a certain area you need to live near? How important are recreational and entertainment options to you?

By knowing the answers to these questions, you will provide your Philadelphia real estate agent valuable information he or she can use to find the home of your dreams.

For more resources about Real estate agent directory or even about local real estate agents and especially about Atlanta real estate brokers please review these links.



Glen

Escapeso Austin Real Estate asked:


There are some myths about real estate agents, many of which are not so flattering. But when it comes down to it, real estate agents are not too out there, and there is a logical explanation to each misconception. Let’s straighten out a couple myths and facts.

Myth #1: They have big hair.

Fact: Though occasionally real estate agents do have big hair, most are regular people who get up in the morning just like you do, and go to work just like you do. Many real estate agents, in fact, are going bald due to stress related hair loss. Same with the fancy dagger-shaped manicures; in actuality, many real estate agents have bitten their nails down to nubs.

Myth #2: Real Estate Agents drive luxury cars while talking on their cell phones.

Fact: Itâ??s true that real estate agents are often trying to do too many things at once, but they like to be careful about it. And though real estate agents would like to make a good impression on you, more often than not they drive Hondas and Toyotas and hope that their hard work will sell you, not their Lexus.

Myth #3: Real Estate Agents know your area.

Fact: Just like normal people, real estate agents canâ??t know everything. Though they do spend a lot of time driving around town, they canâ??t be in all places at once, and they themselves probably have preferences for one neighborhood versus another. Make it clear to your realtor what kind of area you want to live in, and they can help you look within that section of town.

Myth #4: Real Estate Agents live outside of time.

Fact: Real estate agents have lives too, and those lives happen to take place in the same physical realm as yours does. While it might seem like they spend a strangely disproportionate chunk of time speaking with you, they are actually trying to be as time-conscious as possible, so that you can move more quickly into your home and they can move more quickly to helping their next client.

Myth #5: Real Estate Agents just want your money.

Fact: What real estate agents actually want is an easy life. They want to help you find a home you love, and they want to make their (often small) bit of commission off of it (and thatâ??s off the sale, not out of your pocket). They do not want your soul or your firstborn, just some patience, consideration, and a positive home-buying experience for all.



Marcus

Craig Berger asked:


On any given weekend, there is a home somewhere in the area subjected to an open house. While some feel that open houses do not really help the sale of a home, others have had plenty of success selling after showing it to the public. Either way, real estate agents can use the open house to their advantage in many ways.

Real Estate Agents And The Origins Of The Open House

Before the Internet became the way people searched for information on real estate, open houses were one of the only ways to find out what property was on the market. Buyers could browse homes without having to go through a real estate agent.

However, today most interested parties consult websites first. Serious buyers typically work with a Realtor who uses MLS to help find them a home, developing a schedule to look at homes on the market privately. It is up to the agent to know whether to view the house publicly.

Real Estate Agents Can Make Open Houses Work To Their Advantage

One of the benefits of holding an open house is not necessarily to sell the home, but to draw in other sellers. People in the neighborhood who are also looking to sell will be able to meet you, thus giving you a built-in opportunity to network with potential clients. Though this can work, you should combine this tactic with other serious marketing efforts.

Of course, the main reason to have an open house is to attract buyers. Instead of showing the house individually to many clients, you can get all interested parties, plus a few more, to see the property.

Making Open Houses Work And What To Watch Out For

Since open houses are public, you need to be extra careful with any kind of potential liabilities. A swimming pool is a big selling point, but if someone falls in you are the one in charge at the time. Take precautions around the house and keep a careful eye on everyone coming in through the door.

Another option for an open house is a “broker’s open,” in which the open house is for other agents. Again, this is a great way to network, but it does not necessarily sell the home. In any case, hosting an open house gets the word out about the property while giving you the opportunity to connect with other agents, buyers and sellers.



Jean

charliecurtin@rocketmail.com asked:


I am looking for real estate agents in the Sun & Surf area of Boca Raton, Fl. Note to answerer: You do not have to be native to the Boca Raton area of Florida. If you are not, please provide a website or other resource so I can continue my search.
Thank You

Neil

justin narin asked:


If you’re selling a home, you need a licensed real estate agent. It is feasible to sell your home on your own (i.e. For Sale by Owner), but without the proper knowledge of how to sell real estate and the paperwork and procedures involved, you could end up shooting yourself in the foot. Using a real estate agent to sell your home will cut back on headaches and ensure that all appropriate steps are being followed and documentation being completed.

Step 1 – Ask Around

If you’ve never dealt with a real estate agent before, ask your friends and family in the area if they recommend an agent. It’s better to go with an agent that comes with a personal recommendation than choosing one blindly. You should also ask your neighbor if they know anyone, especially if your neighbors are new to the area. Asking around will key you in to some of the better real estate agents around and which ones to avoid.

Step 2 – Go to Open Houses

This might seem a bit strange, but if you want to find an agent that knows your area, you should go to open houses in your neighborhood. Even if you don’t want to stay in that neighborhood, a local real estate agent is the way to go. Local agents know how much you can get for your home based on your neighborhood and the condition of your home, and can provide you with insight an out-of-area agent can’t. So, visit a few local open houses and talk to the agents hosting them. If they aren’t able to take on any addition sellers at the moment, they might be able to refer you to a fellow agent that knows the area and can help you get the best price for your home.

Step 3 – Choose a Reputable Real Estate Office

Real estate agents work out of real estate offices. They work with the office as independent contractors to help sell homes. When choosing a real estate agent, be sure to stick with the larger offices. A no-name office doesn’t have the resources necessary to sell your home fast and for the best price. The bigger, more established real estate offices often have a network of agents and other real estate professionals that can serve you and your specific selling needs.

Step 4 – Take Names and Ask Questions

The bottom line is you’re the customer when you’re selling your home. You choose the real estate agent, they don’t choose you. So, don’t go with the first agent you find. Shop around. Ask your neighbors for references, go to open houses, and visit the larger real estate offices in your area. Write down the names and contact information of some of the better agents you meet. Then, sit down and choose 3 or 4 agents you like and start analyzing. Think about which one will get you the best price for your home and, most importantly, work with and help you throughout the entire process. Some agents can get top-dollar for your home but are very difficult to work with on other areas of the deal (i.e. completing paperwork, escrow, etc. ). If you can’t decide on an agent, call you top choices and set up an interview. Have them bring their resume and proof that they’re a licensed real estate agent. Most agents will be willing to sit down with you and give you their sales pitch. If they aren’t, then it’s obvious they aren’t willing to dedicate themselves to helping you with selling your home.

Selling your home is a big event. The home selling process is a large undertaking that requires the expertise of a real estate agent. So if you’re thinking about selling your home, don’t go it alone. Use the steps above and find a reputable, reliable, and helpful real estate agent.

For more articles on Home Purchase visit http://www.bills.com/home-purchase/



Warren